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You are considering the purchase of a bond with a 13% coupon rate paid and compounded semi-annually

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You are considering the purchase of a bond with a 13% coupon rate paid and compounded semi-annually. The bond will mature in 8 years, and has a P1,000 face value. The bond currently sells for P867. Calculate the annual yield to maturity for this bond. (Round to nearest percentage.) A. 8% B. 9% C. 13% D. 16%